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Insurance

76collector76collector Posts: 986 ✭✭✭✭✭
in Trading Cards & Memorabilia Forum
How do you guy's insure your valuable collectibles ? I was just told that my home owners insurance would not cover any collectible that is valued over $1,000. Do any of you use private insurance ?
I cannot hit curveball. Straightball I hit it very much. Curveball, bats are afraid.
Collecting:
post world war II HOF rookie
76 topps gem mint 10 commons 9 stars
Arenado purple refractors(Rockies) Red (Cardinals)
successful deals with Keevan, Grote15, 1954, mbogoman

Comments

  • dytch2220dytch2220 Posts: 1,681 ✭✭✭
    This is a good question. My collection is growing to the point where the value is becoming substantial so I should really look into this for myself as well.
    The N8 Collection: PSA Registry Sets & Showcases
  • jfkheatjfkheat Posts: 2,745 ✭✭✭✭✭
    You should be able to add your collection to your home owners policy but you will probably have to get it appraised.
    James
  • BLUEJAYWAYBLUEJAYWAY Posts: 9,556 ✭✭✭✭✭
    For those of you who rent I'm not sure if renters insurance (if you carry that) will cover any and everything in ones apartment, including collectibles.
    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • elsnortoelsnorto Posts: 2,012 ✭✭
    There have been a few threads on this topic over the year. This one for example. CIS seems to be the most referenced, and recommended, collectibles insurer.

    Snorto~
  • esquiresportsesquiresports Posts: 1,360 ✭✭✭
    I looked into the four major companies I could find and went with Antiques & Collectibles National Association. They only require you to schedule and photograph items worth $2500 or more. All four majors use A rated insurance companies to underwrite their policies. If anyone is interested, you can PM me for contact information. I have not had any claims so I can't speak to claims process. My policy is underwritten by Lloyd's.
    Always buying 1971 OPC Baseball packs.
  • slum22slum22 Posts: 2,594 ✭✭✭✭
    I will have to double check with my agent. I have a house in CA and I am renting while I work in WA. Most of my collection is in WA. I asked my agent if I needed a special rider on my collection for my renter's insurance but he said no. The only rider he said I needed was for my wife's jewelry. I thought I was clear about the value of the collection but perhaps he thinks I only have hoards of 1990 Donruss and figured no you don't have to insure anything.
    Steve
  • ChiefsFan1stChiefsFan1st Posts: 845 ✭✭✭


    << <i>You should be able to add your collection to your home owners policy but you will probably have to get it appraised.
    James >>



    Interesting topic, and kinda good timing. My homeowners insurance comes by every 3 years and takes pics/updates
    policy and what-not. He was here about a month ago and I brought my sportscards up. He said in essance, the way
    the company looks at it, its cardboard. So if a loss was to occur, I would be reimbursed the going rate for cardboard
    (he kinda chuckled so Im sure that was a joke). He said the best thing to do was to find a company that specializes
    in collectibles. But, of course, thats just my company (I need to ask the wife, I think we have Progressive, but dont
    quote me on that)
    I dont wanna grow up, Im a Toys-R-Us kid!
  • elsnortoelsnorto Posts: 2,012 ✭✭


    << <i>(I need to ask the wife, I think we have Progressive, but dont quote me on that) >>



    Quoted. image

    Suffer. image

    Snorto~
  • ChiefsFan1stChiefsFan1st Posts: 845 ✭✭✭
    image
    I dont wanna grow up, Im a Toys-R-Us kid!
  • 76collector76collector Posts: 986 ✭✭✭✭✭
    haha ChiefsFan1st, I can assure you, that you don't have Progressive for home owners. They don't sell home owners, they bundle with a company named homesite. In a small world type thing, I'm actually a computer systems engineer at Prog.


    Thanks for all the info, guys. I think I will start by contacting Antiques & Collectibles National Association.
    I cannot hit curveball. Straightball I hit it very much. Curveball, bats are afraid.
    Collecting:
    post world war II HOF rookie
    76 topps gem mint 10 commons 9 stars
    Arenado purple refractors(Rockies) Red (Cardinals)
    successful deals with Keevan, Grote15, 1954, mbogoman
  • esquiresportsesquiresports Posts: 1,360 ✭✭✭
    Just as an FYI, my home insurance is through USAA and they cap collectibles insurance at $2,500 or $5,000 total, not per item. USAA has a cross-marketing program with American Collectors Insurance that gets you about a 20% discount. For me, they were still more expensive and were looking for not just photos, but receipts for certain items over $2,000. That was going to be complicated for some of my purchases going a ways back or through eBay.
    Always buying 1971 OPC Baseball packs.
  • WhiteTornadoWhiteTornado Posts: 2,102 ✭✭✭


    << <i>Just as an FYI, my home insurance is through USAA and they cap collectibles insurance at $2,500 or $5,000 total, not per item. USAA has a cross-marketing program with American Collectors Insurance that gets you about a 20% discount. For me, they were still more expensive and were looking for not just photos, but receipts for certain items over $2,000. That was going to be complicated for some of my purchases going a ways back or through eBay. >>



    From what I've researched in the past, I think your experience is fairly typical regarding an insurance cap on collectibles under most homeowners insurance policies.

    Great information in this thread; thanks to all for sharing.
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